PROFITS OF THE MINT.

Wairarapa Age, Volume XXXII, Issue 9588, 7 September 1909, Page 7

PROFITS OF THE MINT.

The annual report of the British Royal Mint shows that the demand for Imperial coin exhibited a considerable decline in 1908. About 92,000,000 of such coins were struck, a fall of over 36,000 000 from the exceptionally high figure for i 907. But it is still in excess of the average of recent yea;?, having been ex ■ ceeded in three years only. The value of the light gold coin received for recoinage was £3,300,000. The Mint lost a fraction over 2d on every sovereign, a'd 1.577 d on every halfsovereign, thus recoined, the deficiency being £35,231 There is a big profit on silver coinage. The bullion purchased cost £350,566, and from this coins representing a face value of £945,879 were struck. Even when the worn coin which was reminted is taken into account there was a profit of 91.30 ps.r cent, A falling off in the issue of bronze coin is reported—no less than £71,970. Still it weighed 360 tons and represented £155,580—30,345,600 pennies, 161,44,800 halfpennies, and 4,684 800 farthings. Quite a j large quantity of worn bronze coin has been withdrawn, for the first time in the history of the Mint, and the loss on it has been about 114 per cent. As a result of the year'fl working a profit of £551,727 was handed over to the Excheouer.